"On behalf of Navios, I am deeply honored to accept the Panama Maritime Authority's distinguished 2011 Excellence Award," said Angeliki Frangou, Chairman and CEO of Navios Maritime Holdings, Inc. "I am proud of our outstanding team at Navios, who work very hard every day to meet the unique challenges of the global shipping and logistics industry."

The Panama Maritime Excellence Award is the highest award given by the Panama Maritime Conference to the entity or person who has made the most positive impact on the maritime international community during recent years. Criteria for selection was based on matters relating to enrollments, ship financing, innovation in the shipping sector, contributions to sustainable development in the shipping sector and quality and security.

Navios Holdings has extensive experience performing complex freight movements and bulk cargo logistics around the world, and in providing innovative solutions for customers' special requirements. It is a leader and innovator in seaborne risk management and shipping advisory services, and a strong financial partner with a secure asset base.